SpaceX Revenue Jumps 161%, Driven by Starlink and AI
- On Tuesday, October 20, SpaceX reported third-quarter 2026 financial results, posting $14.58 billion in revenue and achieving its first solidly profitable quarter since going public earlier this year.
- Growth was driven by major cloud services agreements, the Cursor acquisition, and rising Grok usage, with CEO Elon Musk calling Grok Bot the "fastest-growing product I've ever seen."
- Adjusted EBITDA reached $8.8 billion, Starlink consumer subscribers grew to 13.6 million, and the first revenue-generating Starship mission deployed 26 V3 Starlink satellites with roughly 10 times typical Falcon 9 downlink capacity.
- Shares surged more than 9% early Wednesday, prompting JPMorgan to double its 12-month price target to $500 from $240. Analyst Doug Anmuth said, "SpaceX's ambitions are bigger than any company's we've seen."
- The rally lifted space sector stocks including Planet Labs and Redwire, though management cautioned that fourth-quarter 2026 gross margins may align closer to earlier levels as one-time benefits fade.
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SpaceX (NASDAQ: SPCX) Stock Price Surges 8% On Q3 Revenue Beat While Tesla Merger Talk Ignites Space Sector Rally
SpaceX (NASDAQ: SPCX) stock climbed to $159.94 in morning trading, up 8%, after the company posted third-quarter 2026 revenue of $14.58 billion, topping analysts’ expectations on both the top and bottom lines. The strong earnings result set up an earnings call that quickly shifted focus toward a far larger conversation about a potential combination with […]
SpaceX's shares had ended Tuesday's session with a fall of 0.11%, but subsequently rose by about 5%.
SCIENCE & TECH: SpaceX stock soars on blowout earnings that see revenue surge 161% — as Musk talks Tesla merger
SpaceX shares surged in after-hours trading Tuesday after the rocket and satellite giant reported a whopping 161% jump in quarterly revenue — fueled by an AI business that has overtaken its Starlink internet service as the company’s biggest moneymaker. The results came as rumors of a possible SpaceX-Tesla merger have been percolating — and Elon Musk, the CEO of both companies, said on an earnings call that the businesses have formed special comm…
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